Michael Jordan sells the Hornets: he is in talks with Plotkin and Schnall

Is Michael Jordan’s era as owner of the Hornets ending? According to ESPN, it is in talks to sell its majority stake in the Charlotte Hornets franchise. Considered the greatest player in NBA history, the 60-year-old Jordan has owned the team since 2010 when he paid $275 million to acquire control. He now allegedly entered into “serious negotiations” with a group led by businessmen Gabe Plotkin and Rick Schnall. According to the article, the deal isn’t imminent, but the deal has gained significant momentum ahead of a sale that would make them the Hornets’ new co-owners.

Jordan, a former player of North Carolina State University, where Charlotte is located, would keep a minority stake in the franchise if the deal goes through. Plotkin, who according to Forbes has assets of about 300 million dollars, had already bought a minority stake in the Hornets from Jordan himself, while Schnall owns shares in another NBA franchise, the Atlanta Hawks and is co-chairman of the private equity company Clayton , Dubilier & Rice of New York.